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Topaz

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Not about Canada in particular because we aren't big enough to make much of a dent in an economy the size of the US. However, with the Canuck buck pushing $1.03 US with the US economy being in tough shape, conditions are better for Canadian acquisition of US companies than they have been in a long time.

Right...it was a rhetorical question. Canadians of means are snapping up residential property in warm, sunny US climes as well. It is a great time to do so.

http://www.moneyville.ca/article/901111--why-canadians-are-scooping-up-florida-real-estate

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Right...it was a rhetorical question. Canadians of means are snapping up residential property in warm, sunny US climes as well. It is a great time to do so.

http://www.moneyville.ca/article/901111--why-canadians-are-scooping-up-florida-real-estate

And some canadians of means are trying to unload their beach front property as well....some thought that real estate could never be wrong...every investment carries risk, even R.E..even gold...

But seriously, I know two families, one trying to sell their deceased parents condo in Palm Springs and another couple whop have retired and considered their gulf coast property their personal retirement fund...neither can sell for what they feel it is worth and even then, the buyers of half million vacation homes are fewer than the homes available.

In the end, greed will win...

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Who cares about reasons for oils price rises. Invest in Western Canadian's oil sector, then you'll cheer when the media mention their latest reason for rising oil prices, I hope the middle east blows up, I'll make a fortune then with my stable and secure canadian oil producers.

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Who cares about reasons for oils price rises. Invest in Western Canadian's oil sector, then you'll cheer when the media mention their latest reason for rising oil prices, I hope the middle east blows up, I'll make a fortune then with my stable and secure canadian oil producers.

Yeah who cares about what drives oil prices. Who wants to be informed anyways? Or is this a stance of willful ignorance so when the gas prices do rise to the point where it becomes to costly to fill your tank, then you ask .. hmm why do gas prices keep rising? Will your investments and future profits be large enough to counter those costs?

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When the Libya crisis first hit, Saudi Arabia said it would make up for any loss in production/exports from Libya. Yet the prices still went up. Huh?

Yuppers, never waste a good crisis.

Why Saudi Arabia can no longer temper oil prices

Confidential cables from the U.S. embassy in Riyadh recently released by Wikileaks confirm what skeptics like the late Matt Simmons long suspected. Saudi Arabia, OPEC’s biggest producer, and the country holding the world’s largest oil reserves, has little more to give.

Transcripts of conversations between embassy personnel and Sadad al-Husseini, former executive vice-president in charge of exploration and production at Saudi Aramco, make it clear that neither the country’s oil reserves nor its production capacity can be believed. Instead of the 12 million to 12.5 million barrels a day of official capacity, Saudi Arabia is barely able to pump out between eight million and nine million. Production is still below where it was in the 1970s, and Saudi Arabia has ceded ground to Russia as the world’s largest oil producer. (Curiously, the IEA continues to forecast that the tapped-out Saudi oil sector will pump out 14.6 million barrels a day by 2035.)

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Who cares about reasons for oils price rises. Invest in Western Canadian's oil sector, then you'll cheer when the media mention their latest reason for rising oil prices, I hope the middle east blows up, I'll make a fortune then with my stable and secure canadian oil producers.

The economy wouldn't be able to function without oil from the middle east.

The economy can't function at $150 a barrel oil.

If oil continues to rise the global economy will collapse.

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The economy wouldn't be able to function without oil from the middle east.

The economy can't function at $150 a barrel oil.

If oil continues to rise the global economy will collapse.

This is false...the world's hydrocarbon economy can't function without access to oil supplies, regardless of price. Another vastly different economy would emerge.

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I agree, but our current economy wouldn't be able to function properly, we would slip into a depression.

It would function just fine....scarcity and demand would make energy alternatives more economically viable. There was no such depression in the 1970's under similar circumstances....just another recession.

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Gas and oil prices are up again because of the situation in the Middle-East but Libya only supplies 2% of the world's supply and I can't help but wonder if this was planned by OPEC or others.

What's happening here is not only Libya. The market is pricing in the possibility of disruptions in Iran (also being bloodily suppressed), Yemen (not an oil producer but astride important shipping lanes from the Red Sea to the Indian Ocean, Algeria and possibly Saudi Arabia. If this were just Libya no one would notice. But there is a lot more at work here than Libya.

Big oil has always had some control (or more control than we care to admit or acknowledge) over the economy. Never let a crisis go to waste. Price of oil goes up, and the oil companies laugh all the way to the bank. And we all pay for it.

People weren't saying that when gasoline crashed in the U.S. from $4.49 per gallon to $1.89 per gallon between July and December 2008.

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No surprise there...

Wouldn't it be nice if Canada had a DOMESTIC gas price like every other oil exporting country in the world?

Ooops, Canada can't do that while Mexico can (Mexican gas is $2.70 a gallon) because Moroney gave the US the say over what Canada can/has to charge for it's own gas... Item 11 in NAFTA...

And do you want to pay for those subsidies, nationwide, out of your pocket. It's little known that Mulroney repealed NAFTA when Canada was going to have to pay Alberta subsidies to make up for the crashing crude prices after the 1980-1 peak. Subsidies come dear.

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When the Libya crisis first hit, Saudi Arabia said it would make up for any loss in production/exports from Libya. Yet the prices still went up. Huh?

Yuppers, never waste a good crisis.

Interesting,is'nt it??

I pointedthis exact thing out earlier in this thread...

One should really question this..

If it took a potential loss of 2% of oil production to make the Saudi's (and probably other OPEC producers) increase production,why could'nt they do this earlier??

I mean,oil prices were slowly rising before the Libyan crisis,right?

It makes one wonder if the whole global oil market is'nt rigged by those who have the means to control the supply to take financial advantage of the demand??

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Interesting,is'nt it??

I pointedthis exact thing out earlier in this thread...

One should really question this..

If it took a potential loss of 2% of oil production to make the Saudi's (and probably other OPEC producers) increase production,why could'nt they do this earlier??

I mean,oil prices were slowly rising before the Libyan crisis,right?

It makes one wonder if the whole global oil market is'nt rigged by those who have the means to control the supply to take financial advantage of the demand??

Increasing oil production isn't as easy as opening another valve. A 2% global increase in production to offset Libya's lost production is really a lot to ask for.

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Increasing oil production isn't as easy as opening another valve. A 2% global increase in production to offset Libya's lost production is really a lot to ask for.

More than that Saudi's crude isn't as productive of gasoline as Libyan crude is. Also, I doubt that Saudi Arabia can easily or quickly tap the alleged spare capacity.

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More than that Saudi's crude isn't as productive of gasoline as Libyan crude is. Also, I doubt that Saudi Arabia can easily or quickly tap the alleged spare capacity.

Modern refineries are capable of producing transport fuels out of what would have been heavy residual oils in the past via cracking and reforming units. But yeah, in general, refineries are built to convert a specific type of feedstock into whatever combination of refined products is the most profitable in a specific market area.

Modifying a refinery to accept different feedstock can cost billions.

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Oil prices are rising because the US dollar that is used to buy oil is being devalued as a result of programs such as QE2. Libya has little to do with the rise in oil prices. Oil prices were rising prior to Libya's protests along with other commodity prices.

If that's the case,I wonder how long OPEC will use the US dollar to price its oil globally?

Edited by Jack Weber
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If that's the case,I wonder how long OPEC will use the US dollar to price its oil globally?

Hmmm, I wonder, could Oil SPECULATORS be the reason for the cost rises related to not only the price at the pump but a substantial RISE in almost anything you'd care to mention?

You know all those 1% ers, AND their "puppet" Governments that have most of the money to be able to manipulate just about anything they want to manipulate...

All in the name of FREEDOM (for themselves) of course...

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If that's the case,I wonder how long OPEC will use the US dollar to price its oil globally?

It really depends on how many producers have a stake in keeping the US economy solvent, I suppose. The only thing the US has going for it, frankly, is that the US dollar is still the global financial currency.

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Oil prices are rising because the US dollar that is used to buy oil is being devalued as a result of programs such as QE2. Libya has little to do with the rise in oil prices. Oil prices were rising prior to Libya's protests along with other commodity prices.

That is indeed part of it.

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